NYDFS—First Enforcement Action under Cybersecurity Regulation

By and on July 29, 2020

On July 21, 2020, the New York Department of Financial Services (NYDFS) announced that it had filed its first enforcement action under 23 NYCRR 500 (the “Cybersecurity Regulation”) against a large title insurance provider. Covered entities should closely monitor this enforcement action.

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Mike Byrne
H. Michael (Mike) Byrne has extensive experience in complex insurance transactions, regulation and InsurTech matters. He advises US and international insurers and reinsurers, investors, producers and technology companies on a broad range of matters, including obtaining regulatory approvals for M&A, change of control and affiliate transactions; forming, licensing and structuring business operations; drafting and negotiating agreements; M&A involving producers and service providers; and developing and obtaining approvals for unique products. He delivers practical and business-focused counsel on novel issues. Read Mike Byrne's full bio.


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